Apple holds firm as leader in premium smartphones with 71% global market share in 2023

According to the latest report from Counterpoint Research, tech behemoth Apple has managed to uphold its dominance in the premium segment, although facing increasing challenges from competitors like Samsung and Huawei. While the Cupertino-headquartered tech titan has traditionally maintained a lion’s share of the premium smartphone market, the recent report indicates a modest decline in its global market share, dropping from 75% to 71% in 2023.

This dip is primarily attributed to the heightened competition presented by Samsung and the re-emergence of Huawei as a credible contender. Nevertheless, Apple continues to hold a steadfast grip on the market.

Over the years, the premium smartphone segment has undergone a notable transformation. From constituting a mere 6% of the global market share in 2016, it has surged to an impressive 21% in 2022. This transformative shift is particularly discernible in emerging markets, where consumers increasingly lean towards high-quality devices.

Contrary to the broader trends indicating a general slowdown in smartphone sales, the premium segment (phones priced >$600) has exhibited commendable resilience. According to Counterpoint Research’s projections, the premium smartphone sales are expected to witness a substantial 6% year-over-year growth in 2023, reaching an unprecedented record.


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